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Finance Watch: Septerna Raises $288m In Public Market Debut

GPCR-Focused Firm Launches 23rd US IPO Of 2024

 
• By Mandy Jackson

Public Company Edition: In addition to Septerna’s initial public offering, a new life science-focused SPAC went public. Also, Inventiva raised up to €348m ($376.2m), Akeso revealed a $250m private placement and Marinus is exploring strategic alternatives after a Phase III trial failure.

Finance Watch Public Company
• Source: Alamy

The tally of biopharmaceutical companies that have gone public in the US in 2024 has now surpassed not only last year’s total but the total from 2022 now that Septerna Inc. has launched its IPO, grossing $288m on 24 October. With the Septerna offering, 23 biopharma firms have launched IPOs in 2024, up from 21 in 2023 and 22 in 2022, both of which were down sharply from a record 107 first-time offerings in 2021.

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